Today's number is... 17.5

Bank of America's US High Yield Option-Adjusted Spread is currently at its lowest level in 17.5 years.

Here’s the chart:

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Today's number is... 50%

Market breadth had been weak... However, it has significantly improved over the last week, with 50% of S&P 500 stocks reaching a 20-day new high.

However, this recent surge in 20-day new highs wasn't quite enough to trigger my favorite breadth thrust regime.

Here’s the chart:

Today's number is... 12.5

The 1-week rate of change in Investors Intelligence bears has spiked to 12.5%.

Here’s the chart:

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Let's break down what it shows:

Today's number is... 3

After 3 years, the Consumer Discretionary versus Consumer Staples ratio has exceeded its previous cycle highs from 2021.

Here’s the chart:

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Let's break down what it shows:

Today's number is... 1

Yesterday, the bulls demonstrated that they are still present, with the S&P 500, 400, and 600 reaching their highest 1-month highs since November.

Here’s the chart:

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Let's break down what it shows:

Today's number is... 16

My Fear or Strength Model has been in bearish mode for the last 16 trading days.

Here’s the chart:

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Let's break down what it shows:

Today's number is... 28.5

Market sentiment is shifting as the average bears reached 28.5 last week, the highest reading since November 2023.

Here’s the chart:

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Today's number is... 19

My RORO Risk Range Summary, which includes 19 Risk-On versus Risk-Off ratios, has shifted to slightly favor risk-off assets.

Here is the chart:

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Let's first break down what the chart shows:

Today's number is... 0.64%

The First Five Days indicator for 2025 showed a positive return of 0.64%. 

Here’s the table:

Here’s a bonus table highlighting all the positive years:

Today's number is... 1.60%

The S&P 500 under the hood is bifurcated!

The average stock in the S&P 500 is only 1.60% above its 200-day moving average.

Here’s the chart:

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Today's number is... 100%

Our US Dollar Long Term Percent Bullish breadth reading just reached 100%.

Here’s the chart:

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Let's break down what it shows:

The blue line in the top panel shows the price of the US Dollar index.

Today's number is... 4

The S&P 500 index is holding up well as it is only 1.89% below its all-time high; however, when we take a closer look at the individual stocks, we can see that they have begun to dip below 4 key timeframe highs that we have identified as important.

Here’s the chart:

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